The Real Deal Miami

Argentine development firm Consultatio has purchased the Bal Harbour Club for $220 million, according to the Miami Herald. The company, which is owned by Eduardo Constantini, plans to construct a condominium tower on the site, which is located at 10201 Collins Avenue. Consultatio is also building the Oceana project in Key Biscayne. “We bought two of the best oceanfront properties in Miami,” Consultatio CEO Marcos Corti Maderna said. “We paid prime prices for prime product. We believe in the market and the product that we can develop there.” [Miami Herald]